Mapping the Bitcoin Rainbow Chart – Where will BTC’s market bottom occur?
Traders and investors must remember that the Rainbow Chart has its limitations.
Better Mortgage already has a waitlist open for a new home loan product that accepts Bitcoin and USDC as collateral, with plans to launch nationwide this summer and a projected loan volume of $250 million based on signups so far.
Bitcoin’s recent pullback has significantly flipped the sentiment across the market, with many predicting a more sustained downward performance toward the $60,000 price mark. Following this sharp decline, more investors are now underwater as BTC’s holders’ profitability strongly declines.
June 6, 2026, 2:00 amVeteran crypto analyst Bob Loukas says Bitcoin has entered the final stage of its current four-year cycle, but warned that the market may still need another leg lower before a durable cycle bottom is in place.
June 6, 2026, 2:00 amTraders and investors must remember that the Rainbow Chart has its limitations.
Bitcoin’s market structure is increasingly reflecting the growing influence of major investors, as institutional capital continues to shape price action, liquidity, and overall sentiment.
Bitcoin (BTC) has been in a sharp downtrend over the past two weeks, facing steady declines as selling pressure, market volatility, and negative sentiment weigh on its price.
Veteran chartist Dave the Wave posted a single, loaded caption to X on Friday — "#btc back to the 200 WMA…" — over a weekly Bitcoin chart that says more than the four words do.
ETH price crashed below $1,600 as a vulnerability in Zcash emerged and Bitcoin sold off below $60,000 for the first time in months.
Bitcoin broke under $60,000 on Friday, and the market did not exactly take it like adults in a room. The biggest crypto asset was trading around $59,911, down about 6% on the day and 18.7% for the week.
Bitcoin (BTC) accelerated its decline on Friday, falling to roughly $59,685—the lowest level seen since October 2024, when US voters were preparing for the November presidential elections of that year.
Strategy shares tumbled alongside Bitcoin on Friday as the firm's flagship preferred stock also came under pressure.
Bitcoin dropped to around $61,500 in recent days, its weakest level in roughly four months, and Peter Schiff wasted no time connecting that slide to a broader argument he has been making about stablecoins.